Earl G. Graves Sr. facts for kids
Quick facts for kids
Earl Gilbert Graves Sr.
|
|
|---|---|
Graves in 2004
|
|
| Born |
Earl Gilbert Graves
January 9, 1935 Brooklyn, New York City, U.S.
|
| Died | April 6, 2020 (aged 85) White Plains, New York, U.S.
|
| Alma mater | Morgan State University |
| Occupation |
|
| Spouse(s) | Barbara |
| Children | 3 including Earl G. Graves Jr. |
Earl Gilbert Graves Sr. (born January 9, 1935 – died April 6, 2020) was an American businessman and publisher. He was a strong supporter of Black-owned businesses. Mr. Graves founded Black Enterprise magazine, which shares important information for Black entrepreneurs. He also led the media company Earl G. Graves, Ltd.
Contents
Early Life and Education
Earl Graves Sr. was born in Brooklyn, New York. His father was from Barbados, and his mother was from Trinidad. He grew up in the Bedford–Stuyvesant, Brooklyn area of New York City.
He attended Morgan State University, where he earned a degree in economics in 1958. He was part of the Reserve Officers' Training Corps (ROTC) program. This program trains college students to become officers in the U.S. military. He also went to special training schools for Airborne and Ranger skills.
Start in Politics
After college, Mr. Graves got involved in politics. He volunteered for the 1964 presidential campaign of Lyndon B. Johnson. His hard work led him to become an assistant to Senator Robert F. Kennedy in 1965.
After Senator Kennedy's death, Mr. Graves joined the advisory board of the Small Business Administration (SBA) in 1968. The SBA helps small businesses grow. This experience helped him see a big need for business advice, especially for Black entrepreneurs.
Entrepreneurial Spirit
Earl Graves showed his business skills from a young age. When he was only seven, he sold Christmas cards for his uncle. He learned early about sales and customer service.
While at Morgan State University, he found another business opportunity. He noticed that many students wanted flowers during Homecoming Week. He made deals with two local flower shops. They provided the flowers, and he sold them on campus. This earned him a percentage of the profits.
Founding Black Enterprise Magazine
His work with the SBA made Mr. Graves realize something important. Black business owners needed more information and support. He believed there should be a newsletter to share news and advice for them. He also wanted to highlight the power of Black consumers.
An SBA director suggested he turn his newsletter idea into a full magazine. So, Mr. Graves started his own company, Earl G. Graves, Ltd. In August 1970, the very first issue of Black Enterprise magazine was published.
His company grew to include many different areas. These included publishing, marketing, radio, television, and event planning. Earl G. Graves, Ltd. also partnered with Travelers Group, Inc. to create a fund. This fund helped invest in and support businesses owned by minorities.
Other Business Ventures
In 1990, Mr. Graves and basketball legend Magic Johnson bought a Pepsi Cola bottling company. This company was located in Washington, D.C.. Mr. Graves served as its CEO until 1998, when he sold his share to Pepsi.
He also served on the boards of many other large companies. These included Aetna, Daimler AG, and Federated Department Stores. He was also a board member for important cultural institutions. These included the American Museum of Natural History and the Hayden Planetarium in New York City. He was also a trustee at Howard University.
Awards and Recognition
Earl Graves Sr. received many honors for his work.
- In 1988, he received the Silver Buffalo Award from the Boy Scouts of America. This is one of the highest awards in scouting. He also served as the National Commissioner for the Boy Scouts from 1985 to 1994.
- In 1999, he received the Spingarn Medal from the NAACP. This award recognizes outstanding achievements by African Americans.
- In 2002, Fortune magazine named him one of the 50 most powerful and influential African Americans in corporate America.
- He was appointed by President George W. Bush to a commission. This commission helped plan the National Museum of African American History and Culture.
- In 2007, he was inducted into the Junior Achievement U.S. Business Hall of Fame.
- In 2009, he received the NCAA Silver Anniversary Award.
To honor his legacy, Morgan State University named its business school after him. The Earl G. Graves School of Business and Management opened in 2015.
Death
Earl Graves Sr. passed away in White Plains, New York, on April 6, 2020. He was 85 years old.
